Infosys
Brokerage: Axis Capital
Rating: Hold
Target: Rs 2,400
Rationale: The December quarter is likely to be muted due to lower new deals and delay in the decision making cycles for large deals. Margin will also be subdued due to the lower than expected revenue momentum and salary hikes.

ITC
Brokerage: Religare
Rating: Hold
Target: Rs 295
Rationale: While the cigarettes and FMCG division, continues to grow steadily, the hotels division is likely to stay muted in the near term given weak macro conditions. The stock could remain range-bound ahead of the budget.